Reston, VA – October 21, 2009 – ConceptSolutions, (www.Concept-Solutions.com), an information management and Enterprise Web 2.0 technology consulting company serving government, military and commercial organizations, announced today that, for the third straight year, it has earned a spot in Deloitte’s prestigious 2009 Technology Fast 500TM program with a rank of 303.
Fueled by major contract wins and follow-on business from a number of federal agencies, including the Federal Aviation Administration (FAA) and Department of Homeland Security (DHS), ConceptSolutions achieved 428 percent revenue growth from 2004 to 2008. ConceptSolutions ranked 28th out of the 47 Washington, DC area-based companies to make this year’s Technology Fast 500 list.
Privately funded and always profitable since its founding in 1999, ConceptSolutions’ successful growth previously earned it a 2008 Technology Fast 500 rank of 287, and a 2007 rank of 293. This past September, ConceptSolutions announced it also had earned a ranking of 19th in Washington Technology magazine’s 2009 Fast 50, an annual listing of the 50 fastest growing small businesses serving the government marketplace.
Technology Fast 500 Selection and Qualifying Criteria Technology Fast 500 provides a ranking of the fastest growing technology, media, telecommunications, life sciences, and clean technology companies in North America. This ranking is compiled from nominations submitted directly to the Technology Fast 500 website, and public company database research conducted by Deloitte. Technology Fast 500 award winners for 2009 are selected based on percentage fiscal year revenue growth during the five-year period from 2004 to 2008.
In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or proprietary technology that contributes to a significant portion of the company’s operating revenues. Using other companies’ technology or intellectual property in a unique way does not satisfy this requirement. Consulting companies, professional service firms, etc. are not eligible unless they have proprietary technology that contributes to a significant portion of their operating revenues.
Technology Fast 500 award eligibility requirements also include base-year operating revenues of at least $50,000 USD or CD, and current-year operating revenues of at least $5 million USD or CD. These revenues must have more than doubled between 2004 and 2008. Additionally, companies must be in business for a minimum of five years, and be headquartered within North America.